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by Mike Caswell

Edward Jones has won an injunction in the Supreme Court of British Columbia restricting ex-employee Randy Voldeng from soliciting his former clients. The firm claimed that Mr. Voldeng had defected to RBC Dominion Securities Inc. and was contacting Edward Jones clients in a bid to have them switch firms. Accounts valued at $4-million were already being transferred to RBC, the firm complained.

The injunction, handed down by Justice Barbara Fisher on Tuesday, April 3, comes just weeks after Mr. Voldeng and his assistant, Brenda Jarvis, resigned from Edward Jones's branch in Oak Bay, a wealthy suburb of Victoria. They left on March 12 and the next day sent letters to a number of the 705 clients that Mr. Voldeng had served, explaining that Mr. Voldeng had left Edward Jones and would be moving to RBC. The letters included updated contact information, and explained that Mr. Voldeng could provide "even better solutions" at RBC.

Edward Jones sued Mr. Voldeng and Ms. Jarvis on March 22, 2012, complaining that the letters constituted a solicitation of clients, something that Mr. Voldeng had agreed not to do in his employment agreement. The agreement stated that should he leave Edward Jones for any reason, he would not solicit the firm's clients for six months. Client lists are a "trade secret, and are the sole and exclusive property of Edward Jones," the agreement stated. Edward Jones sought (and has now won) an injunction to enforce the agreement.

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